Now is a great time to recruit franchisees


The deepening recession has prompted businesses in all but the most recession-proof sectors to retrench and put expansion plans on hold.

Fair enough, but franchisors should remember this: the end-to-end process of finding franchisees – from advertising opportunities, through sieving applications and interviewing candidates, to drawing up a franchise agreement – can be a lengthy process, often taking between six and 12 months.

If you stop searching for new franchise partners now, then when the economic recovery begins your expansion plans will be delayed while your competitors gobble up market share.

Moreover, you’ll miss out on a pool of aspiring franchisees of an unusually impressive depth and breadth. Entrepreneurs struggling to raise finance for a start-up and former corporate employees armed with redundancy payoffs are attracted to franchising because of its proven business models and high success rates.

Here are some tips for taking advantage of this abundance of talent.

Harness the internet with FranchiseSales.com and BusinessesForSale.com

Although cutting costs is a reasonable reaction in lean times, it’s important to cut costs without compromising the goals of your business.

You can cut your expenditure on franchisee recruitment without compromising the results by allocating a greater share of your shrinking marketing budget to the web. Advertising franchise opportunities on the internet is highly cost-effective alternative to setting up stalls at franchise exhibitions or advertising on old media. It’s also easy to quantify your return on investment than with television or radio as we inform you of the precise number of leads you get.

FranchiseSales.com has more than seven years’ experience delivering the best in online lead generation, contextual advertising, SEO, opt-in email, web-based media and other online opportunities. We use a combination of proven media, marketing strategies and cutting-edge technology to cost-effectively target your audience from the 20,000 unique visitors we get every day.

Consider leveraging your current advertising package with the following add-on products:

  • Franchise videos
  • Banner exposure across BFS and FS
  • Category sponsorship (keeps your opportunity at the top of the relevant category)
  • Targeted email campaigns to our registered business buyers and franchise seekers
  • Newsletters for BusinessesForSale.com as well as FranchiseSales.co.uk
  • Podcasts – we will conduct the interview
  • Franchise Sales Blog

We’ll help you generate qualified leads from the right buyers through the ‘Pure Qualification System’ extra qualifying questions, which allow you to set specific criteria for franchise enquiries, and sift out unsuitable candidates.

Carry out PR

Send us your press releases and we’ll feature them both on FranchiseSales.co.uk and the Franchise Sales Blog. We’ll give stories an optimised headline that the best Google position possible for key terms people type when searching for opportunities in your industry.

Sending stories to newspapers is a cost-effective way of getting publicity – but only if your press releases interest journalists. They receive hundreds of press releases every day so yours needs to stand out.

One of the most compelling stories you could send is about franchisees’ success – in this climate, feel-good, human interest stories of business success are manna from heaven. We have a dedicated section for franchisee success stories on the FranchiseSalesBlog, so we’d love to feature them too.

Cut the cost of your franchise package

Not everyone can finance their franchise purchase with a hefty redundancy payoff. And banks are still reluctant to lend, even sometimes to franchises, the most robust of business propositions.

Anxious not to miss out on the best candidates, some franchises have broadened their appeal through special offers. For example, Racing Challenge is offering a try-before-you-buy deal and Jani-King recently lowered entry-level investment.

Emphasise the recession-proof aspects of your operation

Some revenue streams are better geared for recession than others.

For example, if you both sell and repair computers, you might be better served highlighting the recession-proof nature of the maintenance side of the business. During recession, people are more likely to get their PC repaired for a modest fee than buy brand new model.

Every day the economic news seems to darken further and people are increasingly braced for a lengthy recession. Reassure aspiring franchisees that you’re ready for the post-boom economy. If, like Starbucks, who recently introduced a cheaper, instant coffee, you’ve adapted your product range to suit the climate, let potential franchise partners know.

 

About The Author

Adam Bannister Writer
Adam Bannister writes for all titles in the Dynamis stable including BusinessesForSale.com, FranchiseSales.com and PropertySales.com as well as other industry publications.